Jeff and Nathan are going to a concert and Jeff forgot his wallet back at home. Nathan has extra cash and lends Jeff $100. Jeff has his phone with him and Interac e-transfers the $100 to Nathan. This example illustrates which innovation in banking?

Question

Quizplus · Accepted Answer

This example illustrates increased access to funds, as Jeff is able to transfer money to Nathan instantly without needing physical cash or to be at a bank, showcasing the convenience and accessibility of modern digital banking methods.

Jeff and Nathan Are Going to a Concert and Jeff